https://www.taxtmi.com/caselaws?id=467227 Where cash deposits are repeatedly withdrawn and redeposited (cash rotation) and no material shows application of those funds elsewhere, the correct taxable measure of unexplained bank credits is the peak bank balance method - compute net credit as peak balance minus opening balance; accordingly the large ex parte addition based on gross deposits was reduced and only the net/peak balance was held taxable, with the excess disallowed as unexplained income absent contrary material. en-us Wed, 15 Feb 2012 00:00:00 +0530 Wed, 11 Mar 2026 10:38:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467227 Where cash deposits are repeatedly withdrawn and redeposited (cash rotation) and no material shows application of those funds elsewhere, the correct taxable measure of unexplained bank credits is the peak bank balance method - compute net credit as peak balance minus opening balance; accordingly the large ex parte addition based on gross deposits was reduced and only the net/peak balance was held taxable, with the excess disallowed as unexplained income absent contrary material. Case-Laws Income Tax Wed, 15 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467227